India's biggest private iron ore exporter Sesa Goa expects some positive news on removal of iron ore mining restriction in Goa by end of next month, its Managing Director PK Mukherjee said on Monday.
The Supreme Court earlier this month banned all mining activity along with transportation of the steel-making ingredient, and asked for a report into illegal mining in the state of Goa in four weeks.
Goa is India's second-biggest iron ore producing state. It produces more than 50 million tonne annually and exports almost all of it, making it also the top exporter.
"We will definitely have some positive news by November end whether it is from the state government or the MoEF (ministry of environment and forests) or the Supreme Court's direction," said Mukherjee, on possibility of removal on mining ban in Goa.
Sesa Goa expects 63-grade iron ore prices to be range-bound at $110-120 a tonne in the coming fiscal, he said.